Azerbaijani State Oil Fund to increase profitability of funds

The annual return on funds from the State Oil Fund of the Azerbaijani Republic (SOFAZ) will reach 3.5 per cent in 2024 which is 1.45 percentage points more than the forecast for 2023.

SOFAZ achieved a yield of 1.6 per cent on debt obligations and money market tools, 11.4 per cent on the stock portfolio, and 3.3 per cent on the real estate portfolio over nine months of this year, Report informs, citing the conclusion of the Chamber of Accounts on SOFAZ budget for the next year.